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Fraud Objection as an Exception to the Principle of Independence of Documentary Letters of Credit under Slovak Law

A letter of credit can be broadly defined as an irrevocable obligation of a bank, as the issuer of the letter of credit, derived from the letter of credit (letter of credit) to pay the beneficiary of the letter of credit a specific amount upon meeting the terms outlined in the letter of credit. A documentary letter of credit is, in essence, a letter of credit where the conditions are based on presenting documents to the issuing bank.

Termination of Employment Due to Organizational Reasons in Light of Case Law

The Labour Code is relatively brief in determining the conditions for termination of employment due to organizational reasons. However, Slovak court case law complements and often expands the statutory requirements in numerous diverse and unsettled cases. In practice, issuing a valid notice of termination becomes a challenging process full of formal and substantive constraints.

Abuse of Rights in Employment Relationships

In real life, every healthy individual becomes a direct participant in an employment relationship, initially as an employee and, in many cases, later as an employer. These legal relationships are among the most common contractual relationships, which we aim to address in this article.

Decision on Profit Distribution

The article addresses the possibility of adopting a decision by the general meeting regarding the distribution of profit after the general meeting has previously decided in the given calendar year that the profit from the last accounting period reported in the regular individual financial statements will not be distributed. The article concerns the distribution of profits among the partners of a limited liability company and the shareholders of a joint-stock company.

Computer Program (Software) and the Application of Patent Box Benefits

What is the "Patent Box"? The Patent Box is a special tax regime for the commercial utilization of intangible assets, including computer programs. This special tax regime was introduced into the Income Tax Act with effect from January 1, 2018. It could first be applied for the tax period starting no earlier than January 1, 2018. In essence, it involves specific taxation rules for selected income, providing certain tax benefits if specific required conditions are met.